State Treasurer State of Michigan lifted its position in shares of Walt Disney Co (NYSE:DIS) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 638,553 shares of the entertainment giant’s stock after purchasing an additional 3,000 shares during the period. State Treasurer State of Michigan’s holdings in Walt Disney were worth $74,672,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Phocas Financial Corp. raised its position in shares of Walt Disney by 989,639.9% during the 2nd quarter. Phocas Financial Corp. now owns 67,054,876 shares of the entertainment giant’s stock worth $703,000 after purchasing an additional 67,048,101 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Walt Disney by 22.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,228,738 shares of the entertainment giant’s stock valued at $652,841,000 after acquiring an additional 1,129,743 shares during the last quarter. Ruffer LLP raised its holdings in Walt Disney by 39.1% in the 2nd quarter. Ruffer LLP now owns 3,977,520 shares of the entertainment giant’s stock valued at $417,261,000 after acquiring an additional 1,117,959 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Walt Disney by 10,630.8% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,022,536 shares of the entertainment giant’s stock valued at $9,705,000 after acquiring an additional 1,013,007 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Walt Disney by 112.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,665,507 shares of the entertainment giant’s stock valued at $174,562,000 after acquiring an additional 880,100 shares during the last quarter. 62.99% of the stock is currently owned by institutional investors and hedge funds.
In other Walt Disney news, EVP Mary Jayne Parker sold 29,192 shares of the firm’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $117.99, for a total value of $3,444,364.08. Following the completion of the transaction, the executive vice president now owns 29,199 shares of the company’s stock, valued at approximately $3,445,190.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brent Woodford sold 961 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $117.06, for a total transaction of $112,494.66. Following the completion of the sale, the executive vice president now owns 25,737 shares in the company, valued at $3,012,773.22. The disclosure for this sale can be found here. Insiders sold a total of 77,886 shares of company stock valued at $9,284,819 in the last three months. 0.38% of the stock is currently owned by corporate insiders.
A number of research firms have commented on DIS. Zacks Investment Research upgraded shares of Walt Disney from a “sell” rating to a “hold” rating in a report on Monday, October 1st. Morgan Stanley increased their price objective on shares of Walt Disney from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, October 15th. ValuEngine upgraded shares of Walt Disney from a “hold” rating to a “buy” rating in a report on Friday, October 19th. B. Riley restated a “neutral” rating on shares of Walt Disney in a report on Friday, November 9th. Finally, Barclays upgraded shares of Walt Disney from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $104.00 to $130.00 in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Walt Disney currently has a consensus rating of “Buy” and an average target price of $122.39.
Shares of NYSE DIS opened at $112.87 on Wednesday. The company has a market cap of $171.93 billion, a PE ratio of 15.94, a PEG ratio of 1.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.86. Walt Disney Co has a 1 year low of $97.68 and a 1 year high of $120.20.
Walt Disney (NYSE:DIS) last issued its quarterly earnings results on Thursday, November 8th. The entertainment giant reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.17. Walt Disney had a net margin of 21.20% and a return on equity of 21.43%. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $13.76 billion. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that Walt Disney Co will post 7.07 EPS for the current fiscal year.
The firm also recently declared a semiannual dividend, which will be paid on Thursday, January 10th. Shareholders of record on Monday, December 10th will be given a $0.88 dividend. This represents a yield of 1.51%. The ex-dividend date is Friday, December 7th. This is a boost from Walt Disney’s previous semiannual dividend of $0.84. Walt Disney’s dividend payout ratio (DPR) is currently 23.73%.
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Walt Disney Profile
The Walt Disney Company, together with its subsidiaries, operates as an entertainment company worldwide. The company's Media Networks segment operates cable programming services under the brand ESPN, Disney, and Freeform; broadcast businesses, which include the ABC TV Network and eight owned television stations; radio businesses consisting of the ESPN Radio network; and the Radio Disney network.
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